Briefs: Houston and state

Briefs: Houston and state

Investors give boost to SurgiCare

SurgiCare said Thursday it has received $1.2 million in a private placement of common stock to physician shareholders, Houston doctors and other individuals.

The company will use the proceeds for working capital. The Houston-based operator of outpatient surgery centers said the investors paid 35 cents a share for the stock.

The company also said it is nearing completion of a deal with a long-term capital partner to expand its surgery center business. SurgiCare shares closed at 40 cents on Thursday, unchanged.

Radioactive thievery concerns Halliburton

Houston-based Halliburton is working with government and atomic energy officials investigating the theft of radioactive material from the company in Nigeria, officials said Thursday.

The radioactive material, used in tools that provide downhole data about wells, was stolen in December, according to Halliburton.

Concerns have been raised that it could be used in creating a so-called "dirty bomb."

The government and public in the West African nation were made aware of the theft as soon as it was discovered, a company spokesperson said. The total weight of the stolen material is equivalent to the weight of a U.S. nickel or less, according to Halliburton.

Pipeline firm looks to raise $55 million

Plains All American Pipeline said Thursday it expects to raise $55.5 million from a public offering of 2.3 million common units in the partnership.

The proceeds will be used to reduce debt under its revolving credit facilities, the Houston-based company said.

About $43 million of its debt is attributable to two recently announced acquisitions.

Goldman Sachs & Co. is lead manager for the offering while A.G. Edwards & Sons is co-lead manager.

Encompass files plan with bankruptcy court

Encompass Services Corp. said Thursday that it has filed its plan of reorganization with the federal bankruptcy court in Houston, and expects to emerge from Chapter 11 during the second quarter.

The new company will focus exclusively on residential services, such as the installation and servicing of heating, ventilation and air conditioning and plumbing in new and existing homes. It will be headquartered in Dayton, Ohio, with operations in nine states.